Las Vegas Short Sales Reduce Foreclosure Rates

Foreclosurelistingsnationwide.com, Jan. 12,
2010 – According to the data presented by the Greater Las Vegas Association of
Realtors, the number of Las Vegas homes
listed for foreclosure has been lessened because of Las Vegas short sales. For the month
of December, almost 70% of all real estate listings in Las Vegas were short
sales. According to the realtors, the market for single-family houses
experienced a 37% increase compared to sales in December 2008.

“Foreclosure
house listings in Las Vegas have been cut by short sales in December last year, based
on home sales data from the Greater Las Vegas Association of Realtors”.(Quoted
from: www.foreclosurelistingsnationwide.com)

Mark Stark, Owner and CEO of Prudential
Americana Group, said that his company has received a sharp increase in sales
for 2009. A big contributor to this was the federal tax credit for first time
buyers, which boosted the sale of Las
Vegas homes that are in the low-cost subsector of the market. Contrary to
what others forecast, he believes that foreclosure house listings will not rise
sharply because short sales will continue to increase dramatically.

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